Warren Buffett’s Secretary Might Be a One Percenter

Has the sweet milk of Obama’s class warfare rhetoric taken another sour turn?  I’m talking about Warren Buffett’s secretary.  How could a woman who is only paid $60,000.00 per year (according to her boss) be able to afford two homes while somehow amassing enough annual wealth to put her in a tax bracket that doesn’t even exist for the top1%?

Is Warren Buffett's Secretary a One Percenter?
Is Warren Buffett's Secretary a One Percenter?

That’s the question posed in an editorial in yesterday’s Investors Business Daily: Is Buffett’s Secretary a One Percenter?

An ABC News report, for example, says she “pays a tax rate of 35.8%,” in contrast to Buffett’s 17.4%  The very top federal income tax bracket is 35%, not 35.8%, and that doesn’t kick in until a taxpayer has adjusted gross income above $379,150.

Does that mean Bosanek is among the 0.4% of taxpayers whose income hits the top federal bracket? You know, the “1%” Obama and his pals always rail about?

Good question.

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Guess who is leading the media parade? Yeah, he lives in that White House…

I am just going to keep saying this, and saying this, and saying this while the Presidential campaign is ongoing: Will the Press be willing to do that investigative homework?  Or, will this still hold true: After all, at the Washington Press Corp Dinner where Obama let this loose: “Most of you all covered me… … Read more

With Obama canceling the Keystone pipeline, I guess Obama’s economy is running out of gas…

Obamanomics Running Out Of GasYup!  Running the car out of the ditch but into that renewable tree is going to do LOVELY things for Obama’s economy.  Our economy runs on oil, and only God knows why Obama thinks that the Keystone oil pipeline from Canada is not in “the nation’s interest”.  His, maybe.  Environmentalists, maybe.  And Warren Buffet’s?  Certainly seems to be (from Instapundit):

MORE OF THIS ADMINISTRATION’S LOUSY ENERGY POLICY: North Dakota Stuck Using More-Costly Railroads to Move Oil. “Right now, about 25% of North Dakota’s oil travels by rail. According to the CBS News report that ‘will increase exponentially with increased oil production and the shortage of pipelines.’”

UPDATE: Reader Jack Lillywhite emails:

 And who has a big stake in Burlington Northern? A guy in Omaha named Buffett.

And by having TransCanada tie its Keystone XI to the border crossing approval you can’t get a segmented line from Montana to Port Arthur, TX that the Bakken field could tie into. That is the concept. A collector system named the BakkenLink runs down to Montana from ND and ties into Keystone XI (known as MarketLink). A twofer you might say.

So, in a way it is a Win-Win for Obama – He wins his Green base and his Crony Capitalism base. Pretty clever, eh?

They win, we lose. As usual.

Crony Capitalism.

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Data Point – Once again, “who pays the taxes”? Where’s the Press on this?

Wall Street Journal - Who pays Federal taxes - income and other
Wall Street Journal - Who pays Federal taxes?

From the Wall Street Journal:

“This all-too-conveniently confuses the incidence of a tax with the burden of a tax. The marginal tax rate on every additional dollar of capital gains and dividend income from corporate profits can reach as high as 44.75% at the federal level (assuming a company pays the 35% top corporate rate), not 15%.

The Congressional Budget Office recently examined the distribution of federal taxes on various income groups. The report was ballyhooed by liberals as proof of rising income inequality, but that argument is for another day. What everyone has ignored is what CBO found about the relative taxes paid by different groups. And, lo, the rich pay more, which is probably why the press didn’t report it.”

Indeed” “why the press didn’t report it.”  All we have heard from the Left is the inequality, a la Warren Buffet, is the inequality of who pays what for taxes.  What they seldom report to the public, and what Warren Buffet absolutely doesn’t mention, is exactly the important info laid out above: double taxation.  The money that Buffet receives has already been taxed once at the corporate rate (35% before legal deductions) and as an owner of the corporation (as that’s what shareholders are – owners) he gets taxed a second time on that income – referred to as dividends.

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Brief thought on the opening of the CNN Prez Debate tonite

I haven’t looked for it yet, but I can guarantee that there will be clips aplenty of how Newt Gingrich unloaded on the prepared, “barely tabloid level” question that CNN host John King tried to bait him with the story / interview of his ex-wife and the subject of open marriage.  You just KNEW that … Read more

WH Knew Before Solyndra Workers Flew…

Solyndra Crime Scene Photo- Mr. Obama pretend to be inteested in how he wastes your money
"And over here Mr. President, Is where we wasted another hundred million..."

The Solyndra Scam continues to develop and Hot Air has the dropon the latest document dump from the White House.  That’s Ed Morrissey’s headline up there.  And this is all just another political cover up courtesy of the Democrat party.

The Obama administration pressured Solyndra to keep quiet about impending layoffs until after the November 2010 election and we have this nifty little paper trail to prove it.

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How else will Obama ignore the Constitution?

Yeah, replacing it with “himself” would be one way

(H/T: Nat Beeler)

Update: A friend of mine from Ohio sent me this email:

Skip – while I enjoy the cartoons, I think today’s cartoon misses the mark:  we have a Congress and Republican mindset that refuses to vote on appointments.   Its really too bad the President can’t fire Congress for failing to work.  On the plus side – at least when they’re on recess they’re not spending money 🙂

I really like this guy – have worked with him, collaborated with him, and have known him for years.  But this, I needed to respond to:

>> Its really too bad the President can’t fire Congress for failing to work

Think about it – this really is a feature and not a bug.  A DELIBERATE feature!

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Our National Mainstream Media at Work in 2011

From Victor Davis Hanson at PJ Media, “The No News Stories of 2011“: “Barack Obama simply does not expect to follow normal political customs and traditions because he knows the media do not expect him to: he will not release the transcripts because he does not have to and it is his pleasure not to, … Read more

Resolve to Remove The Obama Bumper Sticker

The Obama Presidency of unity, hope, change, and a side of fries is crashing headlong into a re-election campaign of hate, racism, class warfare and division.  His administration is incompetent and in utter ruin.  He’s got more scandals brewing than the media can ignore.  And you still have that Obama Biden Bumper sticker on your … Read more

7 Things About Obama

Things everyone should know about Democrat leadership.  (No need to remind you that they will blame everyone but themselves for it.)   Every day, the U.S. government takes in $6 billion and spends $10 billion.  This means that every day the federal government spends $4 billion more dollars than it has. The real unemployment rate … Read more

Is President Obama a “ruthless, uncaring S.O.B.”?

To the Editor: Henry Osmer objects to calling our President a “ruthless, uncaring s.o.b.”. I would not call him that, but I wonder about others. If my brother were a multi-millionaire but wouldn’t help me when I live in a hut on $20 per month, how caring might I consider my brother? If I had … Read more

Bill Whittle unbound about 2012 and the need to defeat Barak Hussein Obama

“In his last Afterburner of 2011, Bill Whittle takes a look at the state of this country three years into Obama’s rule and has amassed a list of breathtaking failures bound to stun and/or depress champions of smaller government. Solyndra, Fast & Furious, the Keystone Pipeline and the deficit are just a handful of the … Read more

More Humor! 2012 Presidential Primary – Mitt Romney / Obama version. +1

  Heh!  (BTW, who wants to bet on the over/under for time that Media Matters (that hack site funded by George Soros is going to call me racist and demand a take down (that’s where the image came from!)?) A spokesman for President Obama‘s re-election campaign blasted Mr. Romney and questioned whether he had something … Read more

Facebook Doodlings – Why is it the job of the Feds to rehab 35,000 schools?

Yet another instance of spending time writing somewhere else instead of writing here, so, am double purposing yet again.  This thread from FB was from Sept (yeah, catching up as always) when Obama wanted to spend $25 Billion (more of what we don’t have) to rehab up to 35,000.  Once again the question must be asked (yes, edited to be more bloggish):

Why is it the Federal Govt’s job to “rehab 35,000 schools”?

If the local communities have so bungled their OWN infrastructure so badly, why is it that the rest of us have responsibility to fund it just because Obama says so? Where’s the accountability in that?

And the last part of that is couched in those terms because education has generally been a local activity and not a federal one.  Here in NH, it IS local – every year for the last six years, I have reviewed my town’s school budget as part of my hamlet’s Budget Committee (which actually prepares the budgets that all of the town’s voters vote up or down).  As part of doing that, I have learned the hardware that tax monies get sucked out of the local scene, filter through the DC bureaucracy, get strings attached, and then a relatively small percentage comes back to the folks that forked it out in the first place.   You can be sure that this “free money” as everyone else is kowtowing to get (under the rubric of blatant greed of “if we don’t take it, someone else will” – just like kindergarteners who are afraid they won’t get their Twinkie snack).

Well, it seemed to one commenter that the right answer was “Sure!”;  after all “because nobody else wants to do it”?  In other words, if the locals decide to do nothing, then his implicit answer is the Feds must do it by default.  My retort was:

You think the Feds should because the locals won’t? Shouldn’t the Feds be smart enough not to fall for that Tom Sawyer fence whitewash trick?

Yes, I started to get a bit hot under the collar as I have with others – it seems with folks like the commenter, their expectation is that the Feds are supposed to right all ills – when the locals are judged to have not done the job, it has to be made right by spending other folks money.  Wrong answer, as it penalizes those communities that ARE doing the right things.

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Well, when private enterprises build their business plan around Obama bailouts, the end is almost certain.

Well, there were a few posts that I had started and didn’t finish before ‘Grok 1.0 gave up the ghost (or, if really old, just plain forgot about them)….this is one.

I  had really thought that the Aptera was a pretty cool looking car (yes, the Eldest, the Youngest, and TMEW DO put up with me) – the idea that it was an EV or a high mileage vehicle was pretty much secondary (interesting, but secondary).  Safety rated, nice looking, and geeky – yes, I would have tried to buy one.  But, am not going to ever have the chance – the money ran out:

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